Poland keen to balance trade

Poland is keen on correcting the balance of trade (BoT) with India which at present is skewed in favour of India.

Polish business had little information about India, the Merchant's Chamber of Commerce (MCC) was informed in Kolkata today by B Zaleski, deputy external affairs minister of Poland.

He said the trade volumes between India and Poland was around $350 million and that India exported around $250 million to Poland.

"There are a number of opportunities and segments where India and Poland can enhance trade to correct the BoT between the two countries," he explained.

"The main factor that was acting as an impediment to increasing trade volumes between the two countries was lack of knowledge and dissemination of information between the two countries. India needs to know more about Poland so does Polish businessmen about India," he added.

Zaleski said creating a foothold in Poland would help Indian companies enter the European Union.

"With the Polish government keen about improving trade volumes with India, India Inc. could get a better foothold in the EU if it initiated trade with Poland," he explained. The current volume of business was more of traditional exchange of goods and services and that it could not be termed business.

Poland's trade volumes with China however was around $3 billion, which showed the scope of business relation both the countries could have.

The deputy minister said organic fruits and vegetable were in great demand in the EU and that India could gain out of selling such vegetables and fruits to these countries. He also said joint venture in steel, coal and other minerals and metals in India with Polish companies would be successful.